Skillsoft Agrees to Acquire SumTotal Systems
The acquisition of SumTotal expands Skillsoft’s solution portfolio and global reach. SumTotal provides next-generation human resources (HR) solutions to 3,500 customers and 49 million users worldwide. SumTotal’s Talent Expansion solution provides personalized learning and HR processes to organizations of all sizes.
“We’re very excited about the opportunity to bring together the experience and strengths of two proven leaders in the cloud-based HR solutions market,” Skillsoft CEO, Chuck Moran, said. “The integration of these complementary products – Skillsoft’s technology-delivered learning assets and SumTotal’s solutions for learning, talent and workforce management – will allow our customers to break new ground in implementing more comprehensive solutions for managing and expanding their workforce talent.”
“We look forward to joining the Skillsoft family,” said SumTotal CEO Hardeep Gulati. “This acquisition is a pivotal milestone in the 29-year history of SumTotal and a tremendous endorsement of our employees, as well as the differentiated solutions and services that SumTotal provides. I am very excited about the opportunity to provide more value to our customers, who now will benefit from a comprehensive content rich HR solution.”
“It has been our pleasure to work with SumTotal over the past five years to expand their portfolio of solutions and better serve their customers and the HR industry as a whole,” said Brian Sheth, President of Vista Equity Partners. “We are confident that SumTotal and Skillsoft together are well-positioned to deliver tremendous value to customers and we wish the company the very best during its next phase of growth.” As part of the transaction, Vista Equity Partners will maintain a small ownership stake in the combined company.